Is Argo Blockchain Plc (OTCMKTS:ARBKF) a Good Buy Or Sell After The Recent Jump?

Argo Blockchain Plc (OTCMKTS:ARBKF) is up 11% in a week after the company announced various resignations and board appointments. The new appointments comprise 3 non-executive directors and Alex Appleton’s promotion from finance director to executive director. In addition, Maria Perrella, Sarah Gow, and Colleen Sullivan have been appointed as non-executive directors effective July 29, 2021.

Perrella has served as CFO of MDA, a Canadian global space mission partner, while Sullivan is currently CMT Digital’s CEO. CMT is a division of  CMT Group, a blockchain and cryptocurrency trading company. Gow will bring more than 19 years of banking experience to the company, including 11 years working at Citigroup Asset Management as global operations director.

On the other hand, Appleton has been at Argo since September 2020 as finance director, and he is being promoted because of his valuable contributions and increasing responsibilities. The appointments come as a result of the resignations of James Savage and Marco D’Attanasio as directors, with Ian Macleod also resigning as executive Chairman. Argo CEO Peter Wall will be the interim Chairman. With these changes, ARBKF is worth watching.

Market Reaction:

On Thursday, ARBKF stock fell 1.34% at $1.84 with more than 231k shares, compared to its average volume of 583k shares. The stock has moved within a range of $1.7500 – 1.9000 after opening the trade at $1.89. Over the past 52-week, the stock has been trading within a range of $0.9000 – 4.6500.

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